Technology to change the face of the property market

The amazing world of technology has given us so many advantages that to begin enumerating them all is to begin a never-ending process because the list is dynamic and in constant flux.

Technology has shaped and shifted the way we do things and it’s remarkable to see how the face of various industries have completely changed, almost as if they had new life breathed into them.

The property market is one of the most notable industries that have been given a whole new image method of doing business. For example, software that integrates data seamlessly without the need to use third party apps, and the ability to add the third party apps if you so choose.

As a buyer you’ve been given carte blanche to drive around the neighbourhoods where you’d like to live, and get all the data on which properties are for sale, their prices and a host of other services all accessible directly on your mobile. You are in a position to make an offer on the same day that you see your dream property even if it’s not office hours and there’s no ‘For sale’ sign out front!

Want another example? You’ve bought an apartment in a development that is still just a stretch of vacant land, but with technology you can remotely monitor developments as it all begins to take shape. Developers and agents can also monitor it without having to be on site.

Property management software has been developed with investors, agents, owners/tenants and managers in mind. Processes such as sales, lettings, facilities management and accounting functions are integrated through a single system, so everybody is on the same page and has the required access to get on with the job. To call it hassle free would be a mild exaggeration but that time and energy is used in a far more effective manner is hardly deniable.

The solutions that technology provides enables 24/7 access to check and make payments, raise queries and maintenance requests and find out information on the property has undoubtedly revolutionised the industry to the point that it’s hard to believe we got by in the old days.

According to a research report commissioned by Property Week in conjunction with Qube Global Software, four in five property managing agents intend to make significant investment into software and technology over the coming five years. Another finding from the report shows that managing agents think compliance with legislation and professional standards is the biggest challenge facing the industry, and an area of concern is cost cutting by investors and occupiers. The report shows that two in three agents feel strongly that technology is the solution to overcoming these top challenges.

Technology has provided solutions and functionality within an integrated system so that every user is able to access the correct data in order for them to do either their job or make the decision to purchase or sell their property. It has enabled small property markets, hidden or far from the urban scene, to access and be accessible to anybody and everybody with an interest.

It’s no stretch to say that software, hardware and mobile development has had a significant impact on the property industry; in fact, the impact of the digital revolution could be said to have revolutionised the property industry itself.

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